For a long time, the buzzword has been data. Whether it’s data generated by major corporations or data generated by individuals, every piece of data must be studied to reap the benefits. But how are we going to accomplish it? That is when the term “Data Analytics” comes into play. This blog on ‘What is Data Analytics?’ will provide you with a practical understanding of the phrase.
The techniques used to evaluate data to improve efficiency and business gain are referred to as data analytics. To assess distinct behavioral patterns, data is extracted from multiple sources, cleaned, and categorized. Depending on the business or individual, different strategies and instruments are used. In brief, if you have a solid understanding of business administration and the capacity to conduct exploratory data analysis to acquire the necessary data, you are ready to pursue a career in data analytics.
Importance of Data Analytics
Data analytics is used to discover hidden insights, generate reports, do market analysis, and improve business requirements, and it plays a crucial part in developing your business.
- Gather Hidden Insights – Data is mined for hidden insights, which are subsequently examined in light of business needs.
- Create Reports — Based on the data, reports are created and distributed to the appropriate teams and individuals for further action to achieve a high level of business success.
- Perform a market analysis – A market analysis can be used to learn about your competitors’ strengths and shortcomings.
- Improve Business Requirements – Data analysis allows businesses to better respond to client needs and experiences.
The data analyst course provides a moderate introduction to data analysis ideas, the responsibilities of a Data Analyst, and the tools required to execute daily tasks. You’ll learn about the data ecosystem as well as the principles of data analysis, such as data collection and data mining. Then you’ll learn about the soft skills needed to effectively convey data to stakeholders, as well as how developing these abilities can help you become a data-driven decision-maker.
Through real-world case studies and examples, these data analytics courses expose novices to the core ideas of data analytics. You’ll learn about project lifecycles, the distinctions between data analytics, data science, and machine learning, how to construct an analytics framework, and how to use analytics tools to gain business insights.
The data analytics course will teach you how to tell the difference between a Data Analyst, a Data Scientist, and a Data Engineer. You’ll learn what a Data Analyst‘s responsibilities are and what data analysis comprises. In the data analyst courses, you’ll be able to put together a summary of the data ecosystem, including databases and data warehouses. After that, you’ll learn about the primary players in the data ecosystem and investigate the various tools available on-premise and in the cloud. By the end of this course, you will be able to envisage a Data Analyst’s day-to-day activities, comprehend the various career options accessible in data analytics, and recognize the numerous tools available to help you grasp this profession.
From 2017 to 2023, the global data analytics market is predicted to grow at a CAGR of 30%, with a market value of $77.64 billion by the end of 2023. Skilled experts will be eligible for more than 90,000 data analytics jobs openings worldwide.
Tools used in Data Analytics
As the market’s demand for Data Analytics grows, a slew of new tools with a variety of features has arisen to meet it. The following are the top data analytics tools, which are either open-source or user-friendly.
- Python – Itis an object-oriented programming language that is simple to read, develop, and maintain and is open-source. Scikit-learn, TensorFlow, Matplotlib, Pandas, Keras, and other machine learning and visualization packages are available. It can also be built on any platform, such as SQL Server, MongoDB, or JSON.
- Tableau Public – It is a free program that can connect to any data source, including Excel, corporate data warehouses, and so on. It then provides visualizations, maps, dashboards, and other web-based applications with real-time changes.
- QlikView — This technology allows users to perform in-memory data processing and receive results rapidly. It also provides data association and visualization, with data compressed to less than 10% of its original size.
- SAS – It is an easy-to-use programming language and environment for data processing and analytics that can analyze data from a variety of sources.
- Microsoft Excel – One of the most extensively used data analytics tools is Microsoft Excel. This tool examines the jobs that summarise the data with a preview of pivot tables, and it’s mostly utilized for clients’ internal data.
- RapidMiner – It is a powerful, integrated platform that can connect to a variety of data sources, including Access, Excel, Microsoft SQL, Teradata, Oracle, and Sybase. Predictive analytics, such as data mining, text analytics, and machine learning, are commonly employed with this technology.
- KNIME – The Konstanz Information Miner (KNIME) is an open-source data analytics platform for analyzing and modeling data. Through its modular data pipeline architecture, KNIME provides a platform for reporting and integration with the benefit of visual programming.
- OpenRefine – This data cleaning program, also known as GoogleRefine, will assist you in cleaning up data for analysis. It’s used to clean up messed-up data, convert it, and parse data from websites.
- Apache Spark- This technology, which is one of the largest large-scale data processing engines, processes Hadoop cluster applications 100 times quicker in memory and 10 times faster on storage. This program is also used to create data pipelines and machine learning models.
How to Become a Data Analyst?
Numbers are translated into plain English by data analysts. A Data Analyst adds value to their company by gathering data on certain issues, interpreting, analyzing, and presenting findings in detailed reports. So, if you can collect data from a variety of sources, evaluate it, uncover hidden insights, and prepare reports, you can work as a Data Analyst.